12. Which of these is not always a characteristic of an Asset? Legal ownership by the entity. b) Expected future economic benefits. c) Exclusive control of the economic benefits. d) Ability of the benefit to be measured in money terms. 13. Consider the following information: Cost of depreciable asset $25,000; Residual value $2,500; Estimated useful life 4 years. Employing the straight-line method of depreciation, what would be the deprecation charge in the first year and the accumulated depreciation in the third year of depreciating? a) b) Year 1: $6,250 (SL), Year 3: $18,750 (SL). Year 1: $5,625 (SL), Year 3: $16,875 (SL). Year 1: $6,250 (SL), Year 3: $16,875 (SL), Year 1: $6,875 (SL), Year 3: $20,625 (SL), d) Albiek falla Tyne here to search